AG2R LA Mondiale Gestion D Actifs Makes New $1.69 Million Investment in Snowflake Inc. $SNOW

Key Points

• AG2R LA Mondiale Gestion D Actifs has made a new investment in Snowflake Inc., purchasing 11,588 shares valued at approximately $1.69 million during the first quarter.
• Recent insider selling has occurred, with Director Michael L. Speiser and Frank Slootman selling a total of 2,341 shares for nearly $524,450.
• Snowflake reported a 31.8% year-over-year increase in quarterly revenue, amounting to $1.14 billion, and surpassed earnings estimates with $0.35 per share.

AG2R LA Mondiale Gestion D Actifs bought a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 11,588 shares of the company's stock, valued at approximately $1,694,000.

Other institutional investors also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new position in Snowflake during the first quarter worth about $26,000. CVA Family Office LLC raised its stake in Snowflake by 80.0% during the first quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after purchasing an additional 88 shares during the period. Spurstone Advisory Services LLC purchased a new position in Snowflake during the fourth quarter worth about $31,000. Capital A Wealth Management LLC purchased a new position in Snowflake during the fourth quarter worth about $31,000. Finally, Carolinas Wealth Consulting LLC purchased a new position in Snowflake during the fourth quarter worth about $32,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Michael L. Speiser sold 403 shares of the company's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $224.84, for a total transaction of $90,610.52. Following the sale, the director directly owned 25,733 shares of the company's stock, valued at $5,785,807.72. This represents a 1.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank Slootman sold 1,938 shares of the company's stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $223.86, for a total transaction of $433,840.68. Following the sale, the director directly owned 162,737 shares in the company, valued at approximately $36,430,304.82. The trade was a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,224,389 shares of company stock valued at $719,812,350 in the last ninety days. Company insiders own 6.80% of the company's stock.

Snowflake Price Performance

Shares of SNOW opened at $221.17 on Friday. Snowflake Inc. has a fifty-two week low of $108.71 and a fifty-two week high of $249.99. The firm's 50 day moving average price is $212.83 and its 200 day moving average price is $188.94. The company has a market cap of $73.84 billion, a P/E ratio of -53.29 and a beta of 1.22. The company has a quick ratio of 1.58, a current ratio of 1.48 and a debt-to-equity ratio of 0.96.

Snowflake (NYSE:SNOW - Get Free Report) last announced its earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.08. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the firm earned $0.18 EPS. The firm's revenue for the quarter was up 31.8% on a year-over-year basis. On average, research analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

SNOW has been the topic of a number of analyst reports. Sanford C. Bernstein lifted their target price on shares of Snowflake from $191.00 to $221.00 and gave the stock a "market perform" rating in a research note on Thursday, August 28th. JPMorgan Chase & Co. boosted their price target on shares of Snowflake from $225.00 to $255.00 and gave the company an "overweight" rating in a research note on Thursday, August 28th. UBS Group boosted their price target on shares of Snowflake from $250.00 to $285.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Citigroup reissued an "outperform" rating on shares of Snowflake in a research note on Thursday, August 28th. Finally, Scotiabank boosted their price target on shares of Snowflake from $230.00 to $280.00 and gave the company an "outperform" rating in a research note on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $255.53.

About Snowflake

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.

Want to see what other hedge funds are holding SNOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snowflake Inc. (NYSE:SNOW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.